Should I use btcjam to loan out to people?

[Mrbutter]

I'm sitting on about 10 btc at the moment and I want to earn more btc in some way.
I have some invested in casino sites and now I am looking into loaning to other people to profit.
Is btcjam a reasonable site to invest in and worth the time and money?

[malaimult]

Probably not. There are a lot of scams on BTCjam and the level of transparency is really bad over there. They do take steps to verify your "identity" however there have been many instances where this has been faked only to end up with some random person who is not involved in bitcoin to being asked to repay a loan that they will be able to get away with not repaying.

Not only that but the individual creditors need to go after the borrowers in court (in the borrower's jurisdiction) in order to collect in the event of a default. This will make it very expensive for you to collect on individual loans when they default. Even though you have 10 BTC to invest, you should really invest in at least 100 loans to remain properly diversified, so on average you will invest .1 BTC on each loan which is hardly enough to be worth going after them for

[Seketsuna]

No, if you google there are lots of complains that investors didnt got back their btc and the lendees were able to escape without paying it back, better invest it in the casino that you know it is safe

[crazyearner]

Nope would never use BTCJAM most people are a scam on their and I would advise not doing so unless want to get ripped off.

[Mrbutter]

I want to diversify my investments around...I have 4 btc invested in a dice site at the moment.
Should I play the game of buy low and sell high with some of the coins? I think that would be profitable with 10 coins if the price swings are $20 in the range of few days... so $200 profit?
Good idea or nay?

[Mrbutter]

Also, how about cloud mining? I know 99% of them are ponzi schemes but what about sites that look "promising" such as ltcgear ?

[crazyearner]

I want to diversify my investments around...I have 4 btc invested in a dice site at the moment.
Should I play the game of buy low and sell high with some of the coins? I think that would be profitable with 10 coins if the price swings are $20 in the range of few days... so $200 profit?
Good idea or nay?

Goto bittrex and buy some FC2 Fulecoin as theirs been loads of people buying 1BTC worth and made a killer earning on it. Feel free to chat on skype sometime if you got it and looking for some trading places pairs and places and coins to trade

Skype name  crazyearnings

[Mrbutter]

I want to diversify my investments around...I have 4 btc invested in a dice site at the moment.
Should I play the game of buy low and sell high with some of the coins? I think that would be profitable with 10 coins if the price swings are $20 in the range of few days... so $200 profit?
Good idea or nay?

Goto bittrex and buy some FC2 Fulecoin as theirs been loads of people buying 1BTC worth and made a killer earning on it. Feel free to chat on skype sometime if you got it and looking for some trading places pairs and places and coins to trade

Skype name  crazyearnings

lol 1btc would spike the volume in one day ...perhaps cause people to buy lol

[crazyearner]

Also, how about cloud mining? I know 99% of them are ponzi schemes but what about sites that look "promising" such as ltcgear ?

Cloud mining is ok to some level providing you can  get good enough prices. I know if a few sites but take time to build up and have a good one am building up fairly good on as they have good discounts and specials on. Will pm you with some of the ones I use

I want to diversify my investments around...I have 4 btc invested in a dice site at the moment.
Should I play the game of buy low and sell high with some of the coins? I think that would be profitable with 10 coins if the price swings are $20 in the range of few days... so $200 profit?
Good idea or nay?

Goto bittrex and buy some FC2 Fulecoin as theirs been loads of people buying 1BTC worth and made a killer earning on it. Feel free to chat on skype sometime if you got it and looking for some trading places pairs and places and coins to trade

Skype name  crazyearnings

lol 1btc would spike the volume in one day ...perhaps cause people to buy lol

Theirs enough volume to do it but with FC2 its had a good steady increase across the exchanges since been added to them and made a good profit from them each time its gone up and then back down made a few 20% to 30% trades along with a lot of 2 to 5% trades daily.

[bitkilo]

I wouldn't recomend it. There have been lots of bad reports of people getting scammed on that site.
Remember just because your loaning btc as part of a business dosen't mean you have anymore protection than if you were loaning to members on this forum.
Invest you btc elsewhere, lots of start ups out there that need cash, just make sure you do your homework before parting with a single satoshi.
Good luck!

[Mrbutter]

Cloud mining is ok to some level providing you can  get good enough prices. I know if a few sites but take time to build up and have a good one am building up fairly good on as they have good discounts and specials on. Will pm you with some of the ones I use

Thanks for the kind gesture but I am somewhat skeptical with the cloud mining sites you pm me about. One is a russian site which I don't trust at all and the other is based in the US and I can't find more information about their company.
I understand your motive was to sign me up onto their site hoping you earn commission on my 10 btc, but both sites are very shady to me. :/

[Mrbutter]

STOP PM ME ASKING IF I WILL GIVE OUT LOANS!
ESPECIALLY IF YOU DONT HAVE COLLATERAL ! lol

[Mrbutter]

Wow,

I want to warn others about this user : kingkedi https://bitcointalk.org/index.php?action=profile;u=372265

First, he messaged me asking for a loan without any collateral. He then offered his amazon account with some balance in it, which he is selling at the moment. Who knows where he got them from

https://bitcointalk.org/index.php?topic=891693.msg9826906#msg9826906
https://bitcointalk.org/index.php?topic=889402.msg9825041#msg9825041

Also, I went through his previous posts and he has an open loan with another lender
https://bitcointalk.org/index.php?topic=885825.0

Hes using a collateral he is selling and asking for a loan when he has already has an active one.

[letyouearn]

Don't do that bro.  The best option to get some profit is to give loan to Bitcointalk.org trusted members by taking collaterals for security. On btcjam you may lose ur btc .

[Mrbutter]

So what happens if a user defaults on a loan??? Does btcjam turn over personal information to the lender and the lender is responsible for going after the loan?

[kingkedi]

Wow,

I want to warn others about this user : kingkedi https://bitcointalk.org/index.php?action=profile;u=372265

First, he messaged me asking for a loan without any collateral. He then offered his amazon account with some balance in it, which he is selling at the moment. Who knows where he got them from

https://bitcointalk.org/index.php?topic=891693.msg9826906#msg9826906
https://bitcointalk.org/index.php?topic=889402.msg9825041#msg9825041

Also, I went through his previous posts and he has an open loan with another lender
https://bitcointalk.org/index.php?topic=885825.0

Hes using a collateral he is selling and asking for a loan when he has already has an active one.

stop stupid when you know speak

i even sold amazon.com giftcards check my trust i earn from site


and to know you fool

i offered collateral as my amazon.fr account not amazon.com giftcode offer which you described

[MRBONG411]

BTCjam does have some users who don't pay. Some may be scammers who never intended to pay and some may have had a situation arise where they were unable to pay.

But there are also some good users there too who are honest.

I would be very interested to know the amount of bitcoin lost on BTCjam to the amount of bitcoin lost here on this forum.

There is no perfect place to invest without risk. If you do decide to try BTCjam just start out small at first and make a few investments you think might be safe and see how it goes.

If someone doesn't pay on BTCjam it goes into default after I think 90 days and then it is turned over to a company called net-arb i think it is and they will release all the info they have on the borrower I guess.

I am somewhat new to BTCjam still and am unsure what is exactly turned over to investors after the default. Also unsure how easy or hard it would be to collect on a loan that has defaulted.

[Mrbutter]

Wow,

I want to warn others about this user : kingkedi https://bitcointalk.org/index.php?action=profile;u=372265

First, he messaged me asking for a loan without any collateral. He then offered his amazon account with some balance in it, which he is selling at the moment. Who knows where he got them from

https://bitcointalk.org/index.php?topic=891693.msg9826906#msg9826906
https://bitcointalk.org/index.php?topic=889402.msg9825041#msg9825041

Also, I went through his previous posts and he has an open loan with another lender
https://bitcointalk.org/index.php?topic=885825.0

Hes using a collateral he is selling and asking for a loan when he has already has an active one.

stop stupid when you know speak

i even sold amazon.com giftcards check my trust i earn from site


and to know you fool

i offered collateral as my amazon.fr account not amazon.com giftcode offer which you described

lol Where am I scamming you?

I am warning other members about you because initially you asked me for a loan without any collateral. Then you offered your amazon account with balance on it but at the same time you are selling the exact same thing you are going to use as collateral. To me it looks like you are trying to sell me your amazon account by asking for a loan and using it as collateral. Also, you have another active loan which you didn't repay back.

I gave you a red trust because of your intention there. Not because you scam or anything like that.

[Mrbutter]

BTCjam does have some users who don't pay. Some may be scammers who never intended to pay and some may have had a situation arise where they were unable to pay.

But there are also some good users there too who are honest.

I would be very interested to know the amount of bitcoin lost on BTCjam to the amount of bitcoin lost here on this forum.

There is no perfect place to invest without risk. If you do decide to try BTCjam just start out small at first and make a few investments you think might be safe and see how it goes.

If someone doesn't pay on BTCjam it goes into default after I think 90 days and then it is turned over to a company called net-arb i think it is and they will release all the info they have on the borrower I guess.

I am somewhat new to BTCjam still and am unsure what is exactly turned over to investors after the default. Also unsure how easy or hard it would be to collect on a loan that has defaulted.

does that company go after the defaulted loans on the behalf of the lenders?

[kingkedi]

Wow,

I want to warn others about this user : kingkedi https://bitcointalk.org/index.php?action=profile;u=372265

First, he messaged me asking for a loan without any collateral. He then offered his amazon account with some balance in it, which he is selling at the moment. Who knows where he got them from

https://bitcointalk.org/index.php?topic=891693.msg9826906#msg9826906
https://bitcointalk.org/index.php?topic=889402.msg9825041#msg9825041

Also, I went through his previous posts and he has an open loan with another lender
https://bitcointalk.org/index.php?topic=885825.0

Hes using a collateral he is selling and asking for a loan when he has already has an active one.

stop stupid when you know speak

i even sold amazon.com giftcards check my trust i earn from site


and to know you fool

i offered collateral as my amazon.fr account not amazon.com giftcode offer which you described

lol Where am I scamming you?

I am warning other members about you because initially you asked me for a loan without any collateral. Then you offered your amazon account with balance on it but at the same time you are selling the exact same thing you are going to use as collateral. To me it looks like you are trying to sell me your amazon account by asking for a loan and using it as collateral. Also, you have another active loan which you didn't repay back.

I gave you a red trust because of your intention there. Not because you scam or anything like that.

i even not said you scammed


i even warned others that you blame me when not done anything wrong

did i said i wont provide collateral?

and also why you blamed me in above post without knowing and also i said to offer amazon.fr account


you just blaming me